Post by account_disabled on Feb 15, 2024 1:44:00 GMT -5
listing projects in Hong Kong. domestic and foreign-funded enterprises operating in China must report to the authorities before listing overseas. This move was implemented after Didi Chuxing, a leading online ride-hailing company, went public in the United States despite official opposition. It was described as a long-arm jurisdiction of the capital market. Mr. Huang, a senior executive of the above-mentioned Chinese investment bank, said that in the past, IPOs only needed to be
approved by the Hong Kong Securities Regulatory Commission and the Stock Exchange, but now they must first obtain approval from the China Securities Regulatory Commission in another jurisdiction. "And we don't know their Costa Rica Phone Number List progress, so we can only wait. If the company that wants to go public involves sensitive industries such as data security, genetic research and development, etc., their approval will be extremely slow." He added that the Chinese government’s standards can change at
any time, significantly increasing uncertainty. "On the one hand, Beijing wants companies to 'go global' and raise funds overseas to 'save the country,' but on the other hand, it is afraid that those companies will not be controlled after they go public, so they have this kind of policy that controls everything, and in the end it will kill the financial market." Will the future be "restorative and prosperous" The Hong Kong market seems to be helpless due to external factors such as the U.S.-China rivalry, China's economic downturn, and Beijing's harsh policies. However, economist Xu Jiajian does not agree with the "relics of an international financial center" theory. He pointed out that Hong Kong still has a lot